Smiffys 2017 accounts see turnover pass £55m

Fancy dress and party experts Smiffys has seen its turnover climb over £55million, marking another successful year in the family-run company’s almost 125-year history.

The latest accounts to be filed by Smiffys (officially trading as RH Smith & Sons) reported that its global turnover has passed the £55 million benchmark, increasing from £54.2m to £55.1m in the year to 31 December 2017. Pre-tax profits dipped slightly in the same period though, from £4.2m to £2.9m.

The company’s UK turnover increased from £32.8m to £33.5m, with international sales also rising from £21.4m to £21.6m.

A statement signed off by the board read:

“The directors are pleased to report an increase in revenue, despite the challenge of volatile worldwide economic conditions. 2017 was another successful year in which the company delivered a 2% increase in revenue to take us above £55m. Our revenue channels continue to evolve and change, keeping us at the front of the market. Looking into 2018 and beyond it is clear that the uncertainty of Brexit will offer one of our biggest challenges. Our team are constantly monitoring and planning the optimum forward strategy for the company, pre and beyond March 2019.”

Director Dominique Peckett added to that, saying that: “Despite challenging trading conditions, 2018 is shaping up to be a record-breaking year.”

Smiffys currently employs more than 220 staff and ships 26 million items to more than 5,000 stockists across the world.

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